A price ceiling is a legally determined maximum price that sellers may charge
Indicate whether the statement is true or false
TRUE
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If a market economy was in a recession, which of the following would help direct it back toward the full employment rate of output?
a. an increase in the rate of inflation b. lower resource prices and lower real interest rates c. higher resource prices and higher real interest rates d. a decrease in the natural rate of unemployment
Which of the following is a microeconomics topic?
A) the study of how prices are determined in the computer industry B) the study of unemployment in the economy C) the study of how changes in the nation's money supply affect the nation's output D) a and c E) b and c
A person who mistakenly assumes that because one event follows another, the second event results from the first commits the fallacy of:
A) division. B) addition. C) composition. D) false cause.
The U.S. Congress has given two government entities the authority to police mergers. These two entities are
A) the Antitrust Division of the U.S. Department of Justice and the Council of Economic Advisors. B) the antitrust division of the Department of State and the Securities and Exchange Commission. C) the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice. D) the Federal Trade Commission and the Internal Revenue Service.